Consumer demand refers to the desire and ability of individuals to purchase goods and services at various prices. It reflects how much of a product, like smartphones or groceries, people want to buy. When prices are lower, demand usually increases because more people can afford to buy the items. Conversely, if prices rise, demand may decrease as consumers look for cheaper alternatives. Several factors influence consumer demand, including income levels, consumer preferences, and seasonal trends. For example, during the holiday season, demand for gifts and decorations typically surges. Understanding consumer demand helps businesses make informed decisions about production and pricing strategies.